New York Women's Chamber of Commerce - Financial Management and Loan Readiness for Women Entrepreneurs of Color

The participants were women entrepreneurs who own microbusinesses in the beauty industry, primarily beauty salons, located in Harlem, Washington Heights, the South Bronx, as well as in other economically disadvantaged areas in Brooklyn and Queens. These women entrepreneurs, prior to this training, had never received business and financial management education. This was their first time attending this type of training! Those that completed the training feel they have been given the tools and the knowledge to better manage their business and business finances and are better prepared to apply for financial assistance, increasing their possibilities for survival, sustainability, and growth.

From June through December 2021, the New York Women’s Chamber held two training cohorts.  Each training cycle ran for six consecutive weeks and were complemented with individual one-on-one technical assistance. Responding to the needs of disadvantaged Latino women entrepreneurs who only speak Spanish, both pieces of training were conducted in Spanish, training sessions were conducted virtually, technical assistance were provided both virtually and in person, all graduations were held in person. Both the training and graduation counted with the participation of representatives from Ponce Bank. There were five modules in each training cycle.

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